SITUATION ANALYSIS

JERGENS NATURAL GLOW FIRMING DAILY MOISTURIZER

JILL WENZ 51295

Intro to Market Research October 29, 2012

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TABLE OF CONTENTS

The History of Jergens, Kao Corporation and how Jergens was acquired by Kao 2

Kao Corporation: the business, financials, and market shares 3

Kao USA: the business, financials, and market shares 6

Jergens natural glow: the release, product information, and sales 8

The Category: reports and trends 11

The Competition: Kao USA and Jergens natural glow 13

The Consumer: Spectra insights 15

SWOT breakdown: analysis 16

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THE HISTORIES AND ACQUISITION: Kao Corporation and Jergens

The Jergens Soap Company was founded in 1882, by Andrew Jergens Sr. and Charles H

Geilfus in Cincinnati, Ohio. The first product they produced was a coconut oil soap formulated

to perform in hard water. In 1902 Jergens expands its business by purchasing the John H.

Woodbury Company and the Robert Eastman Company. With the purchase, Woodbury sells its

trademark and rights to a number of products, including the highly popular Woodbury Facial

Soap. The purchase of the Eastman Company brings with it a small line of perfumes, creams

and lotions, one of which has been singled out as superior to any other lotion on the market.

Originally sold as “Jergens Benzoin and Almond Lotion Compound,” its name is later shortened

to “Jergens Lotion” and it becomes the largest selling hand lotion in America.1

More than a

century later, it became a subsidiary of Japan's Kao Corporation and adopted the Kao Brands

name.

Kao Corporation originated in Japan in 1887 as a sundry goods shop. In launching their

first product, Kao Sekken quality toiletry soap, they entered the newly established market of

Japanese toiletries. Later they expanded to include other consumer goods such as detergents,

feminine and baby care products, prestige cosmetics and other beauty care products, and healthy

food products for health life.2

In 1988, Kao Corporation acquired the Andrew Jergens Company as a new way to enter

the US market. Kao also purchased a chemical company to supply all the materials to make

Jergens’ product. It wasn’t until 2004 that Kao Corporation changed the Andrew Jergens name

into Kao Brands. In January 2012, Kao Corporation made a move to leverage the company's

beauty care businesses in North America and Europe, as their growth plan included them

extending their reach on a global scale. They did some consolidating with some of their

subsidiaries, and thus, Kao Brands became Kao USA.3

Kao Corporation is a public company while Kao USA is private. With this in mind Kao

Corporation’s records are accessible, while the information about Kao USA and the product,

Jergens Natural Glow, will come mostly from sales records and media reports.

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KAO CORPORATION: the business

As mentioned above, Kao Corporation is based in Tokyo, Japan. The company employs

about 34,743 people as of March 31, 2011. They are Japan's #1 maker of personal care, laundry,

and cleaning products.3

Kao Corporation’s mission statement keeps innovation, quality and

consumers as a focus:

Our mission is to strive for the wholehearted satisfaction and enrichment of the lives of people

globally and to contribute to the sustainability of the world, with products and brands of

excellent value that are created from the consumer's and customer's perspective. This

commitment is embraced by all members of the Kao Group as we work together with passion to

share joy with consumers and customers in our core domains of cleanliness, beauty, health and

chemicals.4

The company also has a strong focus on social sustainability and the environment. They

contribute to activities that support local communities, culture and the arts, as well as promote

environmental conservation.5 Keeping the environment in mind and focusing on sustainability is

something that more large corporations should think about. Kao Corporation’s website shows

stakeholders that not only do they have the environment in mind, but they practice green energy

as well. The corporation releases a “Sustainability Report” where they go into details

documenting goals and their progress in achieving them.6

Kao Corporation generates revenues through four business segments, and the revenues

from each of those are represented on this chart, with beauty care taking the lead at 44.2%.

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KAO CORPORATION: the financials

Kao’s financials are on the rise. For their fiscal year ending December 2012, they

provided the information for the chart below. Kao has had a one year sales growth of 3.2%, and

a one year income growth of 13%.3 These are very good numbers considering there are still

some global businesses feeling some of the strain caused by 2008’s recession.

(Millions U.S. Dollars) 2012 2011 2010

Revenue $14,779.20 $14,321.50 $12,777.10

Net Income $637.20 $564.00 $437.00

Net Profit 4.30% 3.90% 3.40%

Employees 34,069 34,743 34,913

Top ranking Procter & Gamble reported a one year 1.4% sales growth and 8.8% Income

growth for their Fiscal Year which ended April 2012.8 When comparing Kao Corporation and

Procter & Gamble, Kao more than doubled P&G’s sales growth and increased income growth

4% . That has to be very exciting news for Kao Corporation who strives for the international

scope that Procter & Gamble has.

KAO CORPORATION: market share

To show just how “big” P&G is, the following chart features a top 10 list of “Beauty and

Personal Care: Top Global Companies by Value”9. While Kao Corporation made the list, they

are still 9.4% below the top rank. Interestingly the last four spots, including Kao, all come

within less than 1% of each other, making those positions less stable as they could easily

fluctuate from year to year, Kao makes smart moves in business growth, it could increase

positions from 10th to 6th.

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9

KAO USA: the business

As mentioned earlier, Kao Corporation had acquired Andrew Jergens Company in 1988.

When Kao changed the name of the Andrew Jergens Company, it became Kao Brands. Very

recently, January 2012, due to global restructure, Kao Corporation changed the name once again,

this time to Kao USA.3 Therefore previous documents and reports may refer to Kao Brands, but

it’s important to note that name refers to the current Kao USA.

Kao USA is based in Cincinnati, Ohio. They employ 560 people as of 2011 end of year.

The company’s portfolio includes Jergens, its flagship label and Curél creams and lotions, John

Frieda and Guhl hair care products, Bioré facial cleansers and strips, and Ban antiperspirants and

deodorants.

The company maintains operations in North America, Europe, Australia and the

Middle East, and markets its products to more than 50 countries.10

The market has recognized

how, “innovation and focused marketing efforts have been key components of Kao USA's

successful strategy as it continues to work with retail partners to deliver premium beauty

products”, as was noted by Chain Drug Review.11

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Similar to Kao Corporation, Kao Brands has set a high level of value for their business.

They have developed a strategic retailer-trade platform called "Kao Kurrency." It is the value

that Kao Brands delivers to its retail partners as well as the value that its retail partners see in

Kao Brands. There are three pillars of Kao Kurrency:

* Superior Customer Service.

* Portfolio Leadership: delivering innovation and category expertise.

* Performance Partnership: providing customized solutions to mutually grow our business.12

Setting standards for your company shows a level of professionalism and dedication to

your trade. Not only does Kao USA set high standards for the quality of their products and goals

for business growth, but they also recognize the effects they have on the community and other

businesses. An article posted by Business Courier, describes how Kao USA is looking to expand

their business in Ohio and will add 50 jobs. Cincinnati Mayor, Mark Mallory was happy about

the expansion and the strength and growth it will bring to the city.13

KAO USA: the financials

As is visible on the graph below, Kao USA’s revenue has gone through a few

fluctuations.14

They have had some great years of growth, but unfortunately, recently went

through a downturn in revenue.

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The list below gives more solid numbers on their sales for those years. Some of the most

significant variations include more than a 30% increase from 2000 to 2001 and an almost 60%

decrease from 2009 to 2010. The drop may have to do with the Kao Brands restructuring that

took place prior to the name change and global realignment in 2012.

Historical Revenue (Sales):14

$74,500,000 (2011)

$75,000,000 (2010)

$182,800,000 (2009)

$182,800,000 (2008)

$182,800,000 (2007)

$187,300,000 (2006)

$176,000,000 (2005)

$177,900,000 (2004)

$177,900,000 (2003)

$189,200,000 (2002)

$189,200,000 (2001)

$139,200,000 (2000)

KAO USA: market share

Kao USA manufactures many consumer goods, but where Jergens is concerned, the

products fall under the Toilet Preparation manufacturing, toilet preparations, and skin care

markets and industries.10

A 2011 report that listed market shares in the US for hand and body

lotion makers based on supermarkets, drug stores and mass merchandisers (excluding Wal-mart)

for 52 weeks ending August 7, 2011. 15

Top Hand and Body Lotion

Makers, 2011

Market

Share Beiersdorf 18.4%

Johnson & Johnson Co. 15.2

Kao Brands 13.9

Chesebrough-Pond's USA 8.3

Chattem 4.9

Galderma Laboratories 4.3

Helene Curtis 2.8

Private label

Other

8.8

23.4

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Kao Brands (Kao USA) is listed third, but is in a good position at owning13.9% of the

market share. Kao Brands are less than 2% from the second highest market share, owned by

Johnson and Johnson and they have a strong lead, more than 5%, over the fourth ranking

Chesebrough-Pond’s. In fact, Kao is almost the same distance above the fourth position as it is

away from the top position. Beiersdorf, who owns 13.9% of the market share, manufactures

Nivea and Eucerin products. Kao offers a good selection of hand and body lotions including

Curél and Jergens brands.

THE PRODUCT: The release of Jergens natural glow

Kao Brands released Jergens natural glow in 2005, with great success. Sales were

soaring the first week television advertising aired. In fact, as posted on the Kao Corporation

website, “Natural glow goes on to be the largest new product launch in the history of the hand

and body lotion category”.16

Other media outlets noted that explosion the launch caused as well.

Brandweek magazine wrote about it, “Jergens experiences every marketer's ultimate dream last

March when it launched Natural Glow moisturizer. Consumers raved about it; retailers found it

difficult to keep in stock and the product sold on eBay for many times above its $6.99 SRP”17

Jergens also teamed up with the fashion world and created an event to raise awareness

about skin cancer and educate consumers on how to get a healthy glow all year long without the

sun. Jergens natural glow daily moisturizer teamed up with Rachel Zoe, celebrity stylist, to host a

charity auction that benefits The Skin Cancer Foundation in 2005. For seven days in August

2005, anyone could make on-line towards win celebrity autographed accessories and bottles of

Jergens natural glow that were being auctioned off. All proceeds went to The Skin Cancer

Foundation to fund awareness about prevention, detection, and treatment of skin cancer.18

This

was a great campaign idea, to target their target market, bring celebrity status to the product, and

do something charitable, which is very in-line with Kao Corporations business standards.

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THE PRODUCT: Product information

Since Jergens Natural Glow lotion was first launched, it has gone through various

changes and vertical extensions. Originally there was one natural glow body lotion and a natural

glow FACE daily moisturizer that included three skin tones options: fair, medium, and

medium/tan. Later, this changed into two skin tone, or ‘tanning’ options which included fair to

medium, and medium to dark, and the natural glow collection would grow to include six

variations of sunless moisturizers.

Jergens natural glow firming moisturizer is multi-faceted in that it is a gradual sunless

tanner, a firming lotion, and a moisturizer. Jergens natural glow Firming Daily Moisturizer

features an exclusive anti-cellulite Firm Perfecting Complex comprised of six ingredients,

including collagen, elastin and ginseng. This formula is clinically proven to reduce the

appearance of cellulite in as little as seven days.11

Jergens natural glow also contains SPF, so the

lotion will block the wearer from harmful UV rays while still giving them that sun-kissed glow.

The website for Jergens natural glow offers a lot of information for consumers. For

example, many people are interested in how this product is different from other sunless tanners.

The website explains that there are two main ingredients, Erythrulose and Dihydroxyacetone

(DHA). It says that DHA is common in sunless tanners, and that Erythrulose is an ingredient

commonly found in quality facial moisturizers. Their combination of the two ingredients offers

a more natural looking skin color than common sunless tanners which typically contain only

DHA.19

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THE PRODUCT: Market share & sales

Jergens natural glow firming moisturizer is included in the hand and body lotions

industry category. Depending on the source, it can fall under different industry categories. In

the most general terms it falls under the ‘Toiletries’ or ‘Personal Care’ markets.

The chart below features Top Hand and Body lotion brands from 2011. The market

shares shown are based on sales at Drug stores for 52 weeks, ending July 10, 2011.20

Top Hand and Body Lotions Brands, 2011 Market Share

Eucerin Aquaphor Jergens Natural Glow

4.72% 4.09

CeraVe Gold Bond Ultimate

3.85 3.34

Cetaphil Aveeno Active Naturals Daily Moisturizing Nivea Body Lubriderm Daily Moisture Eucerin Plus Painters Cocoa Butter Formula Amlactin Eucerin Aveeno Daily Moisturizing Jergens Ultra Healing Other

3.32 2.90 2.63 2.26 1.95 1.95 1.74 1.70 1.66 1.66 62.13

Jergens natural glow is ranked second at 4.09%, a good position considering how vast the

selection of hand and body lotions is for consumers. The listing is not specific towards lotion

subcategory, such as gradual tanners, firming lotions, etc.

The next chart was reported by the Chain Drug Review. It lists the leading brands for

total dollar sales and for total Unit sales over a twelve week period ending August 12, 2012. It

includes drug stores, supermarkets, and discount stores, excluding Wal-Mart.21

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21

Jergens natural glow ranks first on both lists. They are listed as having 7.8% of the

market share for those types of stores, during those 12 weeks, as listed under total dollar sales.

Jergens natural glow also had soaring unit sales in comparison to the other products at

1,011units, over the next ranking at 678 units. This list probably includes more than just the

firming daily moisturizer from the natural glow line, but overall those are exciting numbers to

see.

THE CATEGORY: Toiletries and Hand & Body Lotions

Highlights from a report that was published by MarketLine, note some key trends that are

happening in the global hand & body care market. According to them, the market consists of

mass body care, premium body care, mass hand care, and premium hand care. The market is

valued according to retail selling price (RSP) and includes any applicable taxes. (Any currency

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conversions used in the creation of this report have been calculated using constant 2010 annual

average exchange rates.)

The global hand & body care market grew by 3.8% in 2010 to reach a value of $17,761.7 million.

In 2015, the global hand & body care market is forecast to have a value of $20,955.9 million, an

increase of 18% since 2010.

Mass body care is the largest segment of the global hand & body care market, accounting for

44.3% of the market's total value.

Asia-Pacific accounts for 39.6% of the global hand & body care market value.

Beiersdorf AG is the leading player in the global hand & body care market, generating a 13%

share of the market's value.

The hand and body care market is showing signs of growth. When researching further

into sales and key trends in skin care, one frontrunner of sales increases refers to aging Baby

Boomer consumers in the US looking for anti-aging skin care products.23

The mass body care

category, which includes Jergens natural glow, is more affordable and accessible so its large

segment makes sense. That segment would include Jergens natural glow and much of its

competition. Asia-Pacific accounts for a majority of the global hand and body care market,

which could have to do with their larger population. This percentage will probably increase by

2015 as China’s economy is predicted to become more powerful. A chart shown earlier also

notes Beiersdorf as having the largest market share in the US for hand and body lotions in 2011,

with Kao USA following close behind.

THE CATEGORY: Trends

Like many consumer goods markets, trends are predominant in skin care. Trends can do

a lot to sway consumer purchases and the brands that can catch on soon enough can reap the

benefits. Some current trends in the hand & body lotion market include anti-aging and natural

and organic ingredients.23

As the Baby Boomers get older, they are more concerned with how

they look as they age. Most brands have recognized this and there is a variety of products that

answer to this across all personal care subcategories. Generation X, though smaller in size, has

also become interested in anti-aging products as well.

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Regarding natural ingredients, Europe has been trending this way for some time, and the

US is behind. In the US, ‘natural’ seems to be used as more of a marketing term, then an

ingredients term. Due in part to a lack of regulations, there are no rules about what is necessary

in order to add ‘Natural’ to skin care packaging. As consumers become more aware of

ingredients used in their skin care, companies will have to start sourcing real natural ingredients

and being more truthful. The effort to remove the most harmful synthetic ingredients and replace

them with more benign (if less effective) ingredients is known as “green chemistry.”23

Another trend in skin care is also health related, and it has to do with skin care awareness

and sun damage control. More consumers are becoming aware of the damage that can be caused

by the sun’s UV rays including skin cancer and accelerated aging. Tanning beds can also be

added to the list of tanning products to avoid as more reports are coming out about the dangers

from them as well. Global Industry Analysts released a comprehensive global report on Sunless

Tanners markets. The world market for sunless tanners is projected to reach $758 million by the

year 2015.24

Jergens natural glow skincare is aware of this trend and they offer women a solution to

avoiding the sun while still getting color. The brand's advertising campaign urges women to

choose safer alternatives for tanning without sun exposure. To that end, Jergens Skincare is

partnering with the Skin Cancer Foundation to raise consumer awareness of this issue.12

An article called, “Opportunities and Challenges Facing the Global Spa and Beauty

Industry” notes that self-tanners will “start to perform well in many European markets, as people

become more aware of the dangers of sun exposure and indoor tanning.”25

They also predict that

self-tanners will continue to face strong competition from daily moisturizers with gradual self-

tanning properties like Jergens natural glow.

THE COMPETITION: Kao USA& Jergens natural glow

Kao USA’s company profile has a competition list that includes: Beiersdorf, Procter &

Gamble, Unilever, Avon, Clarins, Helen of Troy, Henkel Corporation, Johnson and Johnson,

L’Oreal, Revlon, and Shiseido.10

This list contains some of the top global manufacturers of

beauty and personal care products. The skin care market or more specifically, the hand and body

lotion market is vast with different categories and subcategories. I think it’s important to take a

closer look the product itself, Jergens natural glow, a firming gradual sunless tanning

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moisturizer, to see which of those companies, has a product that is truly its competition. While

the companies listed above are Kao USA’s competition, I want to see what they offer that goes

up against Jergens natural glow firming daily moisturizer.

After researching some of the similarly priced sun-less tanning moisturizers from the

companies listed I chose five products that would be Jergens natural glow’s biggest competition

based on product information the manufacturer who makes it, and price point. (Prices come

from www.drugstore.com).26

Gradual Sunless tanning

lotions

Manufacturer Price Fl. Oz Moisturizing Gradually Tans Contains SPF

Jergens Natural Glow

Firming

Kao USA $8.49 7.5 X X No

Nivea Sun-kissed Radiant

Skin

Beiersdorf 9.99 8.4 X X No

Olay Body Quench Plus

Touch of Sun lotion

Procter &

Gamble

8.99 6.7 X X No

L’Oreal Sunless Sublime

Glow Daily Moisturizer

L’Oreal 11.29 8 X X No

Neutrogena Build a Tan Johnson &

Johnson

10.69 6.7 X X No

Mark Glow it All Gradual

Glow Body Moisturizer

Avon 14 6.7 X X Yes

The Jergens natural glow collection also contains a ‘natural glow protect’ option that

does not have the firming qualities, but does have SPF 20. Another thing worth mentioning is

Unilever’s Dove brand, which had a gradual tanning lotion, Dove energy glow, but discontinued

it in 2010. Johnson and Johnson’s Aveeno line at one time also had a gradual tanning lotion, but

that was also discontinued. The companies claim they discontinued the products due to a lack in

consumer demands, but as featured on Chain Drug Reviews, Hand and Body Lotion sales chart

shown above, Jergens natural glow had ranked first in unit sales with 1, 011, second was Aveeno

Active Naturals Daily Moisturizer with 678 units. I think that illustrates there is a consumer

demand for gradual self tanners.

This listing above gives more specifics on the competitors of Jergens natural glow, rather

then competitors of Kao USA, because it lists the products sold by the different manufactures

that are directly related. I found many more gradual sunless tanning lotions in my research,

some of which are created for the European and Australian markets only. There are also more

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high-end options available that are offered from luxury cosmetic brand and labels. There is quite

an extensive market out there for this specific type of gradual sunless tanning moisturizing

product. Unfortunately I do not have access to sales numbers and market shares of these

different gradual tanning lotions to really compare how the products are performing. Further

research has been done, but the reports are costly.

THE CONSUMER: Spectra

A Spectra report offers the demographic attributes of Jergens natural glow’s consumers

(note: non-specific to the firming subcategory of the product). According to spectra, the highest

indexing Jergens natural glow consumer is part of an empty nest couple, or a couple with no

children aged at 55-64. The next highest indexing behavior stage includes established couples

with no children ages 35-54, and the third includes small scale families with children 6+.

Lifestyles include: affluent suburban spreads, comfortable country, and third ranking in

that segment, plain rural living. The Jergens natural glow consumer is educated with mostly

high school and college degrees and is a working woman. They are also wealthy, with an

income of 150,000 plus as the highest volume and index score, with $100,000-150,000 following

pretty close behind. The majority of consumers also own two or three automobiles, which makes

sense given their locations in the suburbs, country, or rural towns.

As far as region goes, the Jergens customer mostly resides in North Central US, the

Pacific, and Mountain divisions. The majority live in two person homes and 82.6% are white

82.6%, followed by Hispanics at 10.8%.27

If I were to summarize this consumer based on the knowledge of American consumers

and trends, as well as the Spectra data, I would say the Jergens natural glow consumer is an older

wealthy white suburban working woman. She is educated and therefore smarter with her

purchases. Jergens natural glow is a value item, as it offers a tanning feature, skin firming, and a

moisturizer for your whole body. She has outgrown, or never used tanning beds, but based on

her location in the suburbs of Central US, it is still fashionable to have the look of a subtle

healthy tan. This Jergens consumer is in her late fifties, and has seen signs of aging. She

appreciates that not only is she getting color from this lotion but that it is firming and

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moisturizing her skin, and as a working women she loves that is only take one quick daily

application to access all of it.

SWOT: Review of information

A SWOT breakdown of Kao Corporation, Kao USA, and Jergens natural glow firming

daily moisturizer is a good way to summarize the research listed throughout this report. This

chart illustrates Datamonitor’s SWOT analysis for Kao Corporation.28

Strengths: Kao Corporation has a leading market position built on a strong brand portfolio. For

Kao USA specifically, Kao’s portfolio included Jergens and Curel in skin care, and John Frieda

in Haircare.10

Kao strongly believes in being an innovator with a focus on research and

development. That innovation came through when they released the Jergens product in 2005

with great success. A strength for the product itself, is that Jergens natural glow self tanning

moisturizer was the only gradual tanner I researched that offered a firming option, which gives

Jergens Natural glow an edge. And as posted in the charts earlier it leads in the market share

posted by Chain Drug Review.21

Weaknesses: Kao Corporation has limited exposure to other large personal-product-consuming

nations.

Kao Corporation feels they are very heavily reliant on the Japanese market the company

derived 76% of its revenues from Japan, while other international markets accounted for only

24%. Kao USA also had limited presence in the US, the world’s largest cosmetics market. In

2009, it was dominated by a 63.9% market share that included L’Oreal, Estee Lauder, and

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Revlon.28

Jergens natural glow firming moisturizer’s weaknesses include a lack of SPF, although

there is a natural glow ‘protect’ option that does offer it, but without the firming feature.

Another weakness is the strong tanning smell that many consumers are turned off by. Jergens

natural glow also has a somewhat narrow consumer base, and cannot necessarily be sold

everywhere in the world, as some Eastern cultures prefer lighter skin over a tan color, like we

prefer in the US.25

Opportunities: Kao Corporation lists a booming cosmetics market in emerging nations. The

SWOT reports describes how increasing disposable incomes in emerging markets such as China,

India, and Brazil has increased the demand for cosmetics products.28

Kao Corporation has

already been exploring ways to get more exposure in those countries, specifically more of Asia

and China. Kao USA should also look into how it can expand coverage to nations close by such

as Mexico and South America. Kao Corporation’s report mentioned Brazil as a growing

economy. With the growing trends of sun damage awareness, a self tanning lotion with SPF

could target their needs. The natural glow collection is currently only sold in the US and

Canada. While other there are a good amount of gradual sunless tanners in the UK, Johnson and

Johnson has a gradual tanner they offer only in the UK and Australia, and not in the US and

other parts of Europe. There are more countries whose cultures are accepting of tanned looking

skin that Jergens should brand into.

Threats: Competition is a threat for any company and manufacturer, but the personal care

market is a tough one. As the Datamonitor report mentions,” In addition to products sold in the

mass-market and demonstrator-assisted channels, the company's products also compete with

similar products sold in prestigious department store channels, through door-to-door sales,

through mail-order or telemarketing by representatives of direct sales companies.”28

When the

competition is that overwhelming, brand recognition, quality, performance and price all play an

important role. Kao's major competitors are all big businesses and with their size and resources

they can take over important retail space or afford superior marketing strategies which could hurt

Kao’s market position and sales. Another threat is the trend of more herbal or organic

ingredients in skin care.28

Although Kao is very in tune with the “green movement” there is a

lack of real organic ingredients in some of their products, especially in the US. Jergens natural

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glow lotion contains the name “natural” which is probably deceiving to many customers. The

natural glow refers more to the look one achieves with use of the product, then how they go

about achieving it. Kao Corporation listed one of their strengths as having a focus in research

and development, and because of that, if they decide to put the time and energy into seeking out

those ingredients, I think they will be able to alter products to reach the standards consumers are

demanding.

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